Ingles Markets(IMKTA)
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Ingles Markets(IMKTA) - 2022 Q4 - Annual Report
2022-11-23 21:15
Financial Performance - Total retail revenues for the fiscal year ended September 2022 reached $5,678.8 million, a 13.8% increase from $4,988.0 million in 2021[25] - Grocery revenues amounted to $1,940.4 million, up from $1,762.9 million in 2021, reflecting a growth of 10.1%[25] - Perishables revenue increased to $1,445.0 million, compared to $1,349.1 million in the previous year, marking a growth of 7.1%[25] - Gasoline sales surged to $885.8 million, a significant increase of 51.8% from $583.7 million in 2021[25] - The average sales per store for the fiscal year 2022 was $27,622, an increase from $23,926 in 2021[30] Store Operations - The company operates 189 supermarkets under the "Ingles" brand and 9 under the "Sav-Mor" brand, with a total of 198 supermarkets[27] - The company owns 164 supermarkets and 25 undeveloped sites suitable for future development[21] - The average store size increased to 57,281 square feet in 2022, reflecting ongoing modernization efforts[46] - The Company opened no new stores in fiscal year 2022, while closing one store, maintaining a total of 198 stores[46] Customer Convenience and Services - The Company operates 112 pharmacies and 107 fuel stations at its grocery store locations, enhancing customer convenience[29] - The Ingles Curbside service is available at 84 stores, allowing customers to order products online and have them loaded into their vehicles[35] - The Company offers a wide selection of prepared foods and home meal replacements across various departments, including deli, bakery, and produce, to meet customer demand for convenient meal options[34] Supply Chain and Inventory - Approximately 73% of the milk products sold by the company's supermarkets are supplied by its own milk processing and packaging plant[20] - Approximately 55% of the Company's inventory is supplied from its own warehouse and distribution facilities, which span 1.65 million square feet[38] - The Company faced disruptions in its distribution system during fiscal year 2022 due to the pandemic, labor shortages, and inflation, but does not anticipate these issues will materially affect overall operations[42] Workforce and Recruitment - The Company employs approximately 26,000 associates, with 93% working in supermarkets, and has faced challenges in recruitment due to a tight labor market[54] Market Competition - The supermarket industry is highly competitive, with the Company facing competition from major players like Aldi, Kroger, and Walmart, among others[48] - The supermarket industry is characterized by high competition and consolidation, with a shift towards online ordering and home delivery[178] Environmental Practices - The Company is committed to environmentally sound practices, including recycling and energy-efficient store modernization initiatives[61] - The Company has increased its use of recycled materials and customers are showing a preference for reusable shopping bags, indicating a shift towards environmental awareness[178] Economic Conditions and Risks - Economic conditions are expected to continue affecting customer purchasing patterns, particularly regarding meal replacements and private label purchases[178] - Volatile petroleum costs are anticipated to impact utility and distribution costs, affecting customer shopping behavior[178] Debt and Interest Rates - The Company is exposed to interest rate changes due to its borrowing activities, including a fixed rate on the 2031 Notes, which mitigates interest rate risk[176] - The Company's long-term debt with variable interest rates totals $164.833 million, with an average interest rate of 4.09%[179] - The Recovery Zone Bonds have a variable interest rate totaling $58.970 million, with an average year-end interest rate of 2.94%[179] - The Company’s long-term debt with fixed interest rates amounts to $4.185 million, with an average interest rate of 4.40%[179] - The average year-end interest rate for long-term variable debt decreased from 1.65% in 2021 to 4.13% in 2022[179] - The Company does not consider potential near-term losses from changes in interest rates and exchange rates to be material[181]
Ingles Markets(IMKTA) - 2022 Q3 - Quarterly Report
2022-08-04 20:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 25, 2022 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14706. INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State or other jurisdiction ...
Ingles Markets(IMKTA) - 2022 Q2 - Quarterly Report
2022-05-05 20:20
For the transition period from to Commission file number 0-14706. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 26, 2022 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 P.O. Box 6676, Asheville NC 28816 (Address of principal executive offices) (Zip Code) (I.R.S. Employer Identification No.) (828) 669-2941 ...
Ingles Markets(IMKTA) - 2022 Q1 - Quarterly Report
2022-02-03 21:30
For the quarterly period ended December 25, 2021 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14706. INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State or other jurisdic ...
Ingles Markets(IMKTA) - 2021 Q4 - Annual Report
2021-11-24 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 25, 2021 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-14706 INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization ...
Ingles Markets(IMKTA) - 2021 Q3 - Quarterly Report
2021-08-05 20:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 26, 2021 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14706. INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State or other jurisdiction ...
Ingles Markets(IMKTA) - 2021 Q2 - Quarterly Report
2021-05-05 20:17
FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 27, 2021 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14706. INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Large Accelerated Filer ¨ Accelerated Filer x North C ...
Ingles Markets(IMKTA) - 2021 Q1 - Quarterly Report
2021-02-04 21:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 26, 2020 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14706. INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State or other jurisdic ...
Ingles Markets(IMKTA) - 2020 Q4 - Annual Report
2020-12-08 22:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-K | | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | --- | --- | | | For the fiscal year ended September 26, 2020 | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-14706 INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State ...
Ingles Markets(IMKTA) - 2020 Q3 - Quarterly Report
2020-08-06 20:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 27, 2020 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14706. INGLES MARKETS, INCORPORATED (Exact name of registrant as specified in its charter) North Carolina 56-0846267 (State or other jurisdiction ...